PurposeShare repurchases are increasingly employed in South Africa. Disclosure on share repurchases in annual reports is poor, and a high percentage of share repurchases are not announced in real time on the Johannesburg Stock Exchange (JSE). A comprehensive database of share repurchases by JSE-listed companies has been created up to 2009, but post-recession repurchase behaviour is not known. This study aims to examine South African share repurchase behaviour (activity, repurchase entity, repurchase type and transparency) in the post-recession period and compare this to the 2000–2009 period.Design/methodology/approachComprehensive share repurchase data for all JSE-listed companies (excluding those in the basic materials and financial industries) were obtained by scrutinising annual reports and JSE announcements.FindingsThe repurchasing of shares reached a peak during the financial recession of 2008/2009, with share repurchases stabilising at a lower level post-recession. Repurchases executed by subsidiaries have decreased post-recession, probably owing to the introduction of dividends tax. However, 45% of the share repurchase value was not announced via the JSE (compared to 22% in 2000–2009).Practical implicationsReal-time JSE announcements of all share repurchases are required to improve transparency.Originality/valueOwing to low announcement rates, a lack of transparency relating to share repurchases was observed in South Africa post-recession. Enhanced corporate governance requirements could improve transparency.

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The South African Institute of Chartered Accountants (SAICA) recently introduced a competencybased accreditation process for chartered accountants (CAs). This changed the structure of the practical training period or 'articles' (which is now called the CA 2010 training programme). The new training programme has an increased focus on developing 'pervasive skills' (which include personal and professional skills, such as leadership, communication and ethics), and allows trainees to gain detailed experience in a specific focus area. Students, who would be affected by these changes, were surveyed regarding their perceptions of this new training programme. The students were positive about the focus on pervasive skills. However, many felt that the changes (especially the elective focus area) were communicated too late, as they had already signed with auditing firms, and would be forced into an auditing focus area. Many students were worried about possible changes to Part II of the Qualifying Examination (QE 2).

The completion of a Certificate of Theory in Accounting (CTA) is an essential and challenging part of qualifying as a chartered accountant (CA) in South Africa. The objective of this research was to determine how certain pre-admission student characteristics impact CTA performance at a South African residential university (Stellenbosch University). Current CTA students were asked to complete a questionnaire, which requested information regarding the characteristics that they possessed upon admittance into the CTA programme. Past performance in undergraduate studies showed the strongest correlation with CTA performance, and is thus a valid admission criterion. Characteristics that relate to reduced performance in CTA studies include: not completing the undergraduate programme in the minimum amount of time, being an extrovert, underdeveloped literacy skills and focusing on the details rather than the big picture. Such students are at risk and could benefit from targeted interventions.

The Johannesburg Stock Exchange (JSE), the Companies Act of 2008 (the Act) and the third King Report on Corporate Governance (King III) require disclosure on the share-based remuneration of directors of listed South African companies on a per-director basis. Research purpose:The first objective was to determine the disclosure practices of JSE-listed companies relating to share-based remuneration on a per-director basis, to examine whether the disclosure practices comply with regulatory requirements and whether share-based remuneration was disclosed consistently. Comparisons were made between companies in the three largest industries on the JSE (financial, industrial and basic materials industries) as well as between small, medium and large companies. The second objective was to develop a bestpractice disclosure example that complies with the JSE listing requirements, the Act and the latest King Report (King IV).Motivation for the study: Previous research has hinted that share-based remuneration is poorly disclosed in South African annual reports, but it has not specifically been studied.Research approach, design and method: Data on disclosure practices were collected from annual reports. The collected data were analysed against the regulatory requirements to evaluate compliance and compared between companies to evaluate consistency.Main findings: Some companies failed to comply with regulatory requirements (did not disclose the value of share-based remuneration and the number of instruments employed). Large companies were more likely than small companies to comply with regulatory requirements. Between-company inconsistency was noted when comparing the value of sharebased remuneration disclosed by companies in the sample.Practical/managerial implications: Non-compliance with regulatory requirements regarding the disclosure of per-director share-based remuneration was noted in the sample, which could lead to stakeholders having insufficient information for decision-making purposes. Inconsistent disclosure practices, leading to incomparability between similar companies, could hamper effective investment decisions. Contribution/value-add: A best-practice disclosure example was developed to assist companies seeking to comply with disclosure requirements and enhance comparability between JSE-listed companies in future.